On 14 May 2013 the Deputy Prime Minister and Treasurer announced a package of reforms to protect the corporate tax base from erosion and loopholes.
One area of reform relates to the inconsistent tax treatment between multiple entry consolidated (MEC) groups and ordinary consolidated groups. To address this issue, the Government will amend the law to remove the tax advantages available to MEC groups.
The issues paper titled Removing the tax advantages for multiple entry consolidated groups outlines the process for developing the implementation details of the policy.
In July 2013, a tripartite working group (involving the Treasury, the Australian Taxation Office and the private sector) will release a consultation paper inviting comment from the business community on the implementation options it has identified.
Corporate Tax Unit
PARKES ACT 2600
For enquiries, please call Chris Lyon (02) 6263 3102.